Google Earth User Guide - Manual (Page 115)

Cut Ctrl + X + X Cuts a
placemark
or other
item from
the listing
in the
Places
panel.
Cuts an
icon from
the 3D
viewer.
Both icon
or listing
item must
first be
selected.
You can
use this
feature to
organize
your
places
data.
Paste Ctrl + V + V Pastes a
placemark
or other
item into
the
selected
folder in
the Places
panel.
You can
use this
feature to
organize
your
places
data.